“If you could only give potential franchisees one piece of advice, what is it?”

If you’ve ever had questions on how to start a franchise, read on to see the answers straight from the experts.

Rick Bisio – The Educated Franchisee

“If you are looking for the perfect franchise opportunity, forget it. There is no such thing. The franchisor’s job is to provide the tools to create success. In the end, what you do with those tools is up to you. Perfection is not found. It is created.”

- Rick Bisio – Franchise Consultant – The Educated Franchisee

Jania Bailey – FranNet

“Do not fall in love with a concept, instead be sure you love what you will be doing as the owner of the concept and what the business can do for you. Be sure to match your goals, skill set, and business model to the franchise before making the decision to invest. There are over 3100 concepts, you should not settle for anything that is not a match for you.”

- Jania Bailey, CFE, President & COO, Frannet

Dave Schaefers – Meineke Car Care Centers

“Buying a franchise is a huge decision and for most people a significant departure from corporate America where payroll check are delivered like clockwork. It is very important for new franchisees to join a system that can provide the opportunity to meet and hopefully exceed their required earning levels. Regardless if it is a single unit or multiple points, going into franchising with a realistic financial plan that meets individual life style requirements is critical. To me this is the difference between buying a job and building a business.”

- Dave Schaefers SRVP of Franchise Development Meineke Car Care Centers, Inc.

Martin Greenbaum – Greenbaum Marketing Communications

“The best advice I have for someone starting a franchise is to make sure they have strong unit economics and that they develop a business plan for the franchise organization, with an understanding of the resources and time it will take them to be in a positive cash flow position. The business plan will also force them to look at all areas of the business and make sure they are thinking of everything.

And finally, it would be best to have a consultant that is experienced in franchising from a C-Level Perspective to review the business plan and provide insight. The transition from being an operator into being a franchisor is a totally different business. Most of those that are new to franchising do not know what it really takes and it is almost impossible for them to educate themselves at the forefront to avoid costly mistakes. Therefore, comprehensive planning, followed by experienced support is what they should do. In fact, it may be best for the to create a board of directors of experienced franchise professionals to help guide their growth process.”

- Marty Greenbaum – President, Greenbaum Marketing Communications

Paul Segreto – Franchise Foundry

“My advice is not to always look at the obvious as the connection between what you like or enjoy and what you’d like to do in a franchise business. Often, it’s what the business provides and to specific target audiences that may be more in line with what you love or what you’re passionate about. Think outside the box to explore those franchise opportunities.”

- Paul R. Segreto, CFE, President & CEO, Franchise Foundry

Thomas Scott – Franchise Performance Group

“If you interview successful franchise owners from any brand, you’ll find that they own businesses in systems where franchise owners are both profitable and enjoy their businesses. With the average length of time franchise owners keep businesses, it has become much more important for owners to select business they really enjoy; businesses that make owner excited to wake up every morning and spend time in. As Menchie’s CEO Amit Kleinberger often says, ‘Making money is great, but the way you make money has become more important.’

Look for businesses that do something you enjoy or provide a service or product that helps people in specific ways. If you enjoy people, for instance, you might enjoy a frozen yogurt business that makes people smile. If faith is important, you might enjoy being part of a franchise system that places an emphasis on faith as part of its identity. If green and environmental issues are important, you might like a home service that uses environmentally-friendly products.

Either way, look for businesses that overlap with your core values and interests – you’ll be more passionate about the business and your customers will respond with their business.”

Thomas Scott, Franchise Consultant, Franchise Performance Group

Joe Mathews – Franchise Performance Group

“Make sure you have the requisite capital, skills, experience to win, fit the corporate culture, and have tremendous passion for the brand. Make sure the franchisor treats franchisees as equals.”

- Joe Mathews, Founding Partner, Franchise Performance Group

Jeff Sturgis – Franchise System Advisors

“The 3 keys to choosing and operating a successful franchise are:

1. Believe in the business/concept;
2. Make sure other franchisees can validate the business meets your needs and that the franchisor works to support and help their franchisees and
3. Ensure as much as possible a reasonable and long term return on investment, be careful of fads that may make some money quickly but will just as quickly lose their value.”

- Jeff Sturgis, President, Franchise System Advisors

Jeff Johnson – Franchise Research Institute®

“Talk privately (and confidentially) with as many existing franchisees as possible. Find out if the “promises” equal “reality” as a franchisee of XYZ. Don’t get caught up in the emotional aspects of being “self employed”…investing in a franchise is serious “business” and I believe existing franchisees can tell you more in 10 minutes then you will learn writing a detailed business plan!”

- Jeff Johnson, Founder and CEO, Franchise Research Institute®

Steve Olson – Franchise Update Media Group

“Ask yourself, are you a doer or a dreamer? Will you toss the time clock and commit whatever it takes to grow your business today, tomorrow and five years from now? Franchising offers a proven roadmap providing tools, systems, branding and support … but you’re the engine driving your success!”

- Steve Olson, CFE, President of Franchise Update Media Group, and former franchisee of the year.

Sean Kelly – FranBest.Com Media Network

“Every franchise opportunity comes with both burdens and benefits. Burdens include an upfront franchise fee, an ongoing royalty and other fees, and the loss of personal freedom. Forget the hype about “being your own boss,” when you buy a franchise you agree to do what you’re told, whether you like it or not. A good franchise provides benefits advantages that SIGNIFICANTLY outweigh the burdens. Many franchises, if not most, do not.”

- Sean Kelly, Publisher, FranBest.Com Media Network

Don Sniegowski – Blue MauMau

“Prospective franchisees need analytic clarity to sort through this industry’s one-sided bull and sales spin. The investor should not be lulled into trying to qualify to join the club. They need to feel in control of investing sizable money in the right business. 3 Big questions to know the answer to …

1. Under this brand, how much EBITDA (profit) from a franchised unit can I expect if I were just average? What’s the years to simple payback time (average unit investment/EBITDA)?
2. What’s the chances of failure in this brand (numbers please) compared to its competitors?
3. What is this network organization and culture like for a franchisee – despotic or collaborative…Stagnant or learning…?”

- Don Sniegowski, Editor, Blue MauMau Inc.

Garth Snider

“Franchising is by definition a contractual arrangement between two parties. So a prospective franchisee ought to set aside some money to hire its own experienced lawyer to guide it through the process. Becoming a franchisee is a life changing decision. Thus it is foolish to not hire a lawyer simply in order to save a few dollars. Dollars spent on the front-end for both legal and accounting guidance are dollars well spent.“

- W.C. Garth Snider, Esq.

Mark Siebert – The iFranchise Group

“The search for the best franchise starts with an honest self-evaluation. When franchises fail, it is often due to undercapitalization or a bad fit from the standpoint of skill set. So ask yourself how much capital you can realistically put at risk.

Ask yourself if you are a risk taker – knowing that increased risk may mean increased rewards.

Ask yourself what skills you possess – and more importantly which skills you lack. Determine what you value most in a potential franchise opportunity, whether it be independence, financial return, or flexibility.

And most of all, ask yourself what you love. You may be working in this franchise for the next 20 years or more and, at least at first, you will be working long days and weekends. We are always at our best when we bring passion to an endeavor, so make sure you know your passion before you buy.”

- Mark Siebert, CEO, The iFranchise Group, Inc.

Joel Libava – The Franchise King

“Don’t assume that you know exactly what your role is going to be as The Owner of a specific franchise business you’re interested in. Schedule a conversation with the franchise representative so you can find out what your role would actually be.“

- Joel Libava, The Franchise King

Tom Dufore – Franchise Marketing Systems

“My advice for someone looking at buying a franchise is to be sure they like the business and the franchisor and to make sure they meet with the franchisor for a discovery day prior to buying.”

- Tom DuFore, COO, Franchise Marketing Systems

Rob & Sue Bennett – FranFinders

“The best piece of advice I give to our clients who are considering a franchise…take the risk and pursue your dreams! Life is short and don’t over contemplate your decision to move forward. Once you take the risk, you will instinctively want to help others do the same with their lives and you will never look back”

- Sue Bennett, Principal, FranFinders, LLC

We’ve put together an interactive infographic full of information on some of our customers’ favorite brands. Franchisors include: Seven Eleven, Subway, Cold Stone Creamery, GNC, Pizza Hut and more. Each franchise logo can be clicked on, bringing up information on the total investment,  liquid capital, franchising fees, and royalty fees required.

Sorting the franchises in our infographic is extremely easy. At the very top, you’ll see two orange tabs for filtering: ‘filter by industry’ and ‘sort by’. With these two tabs you can sort the franchises alphabetically, by investment costs, and by industry (food/beverage and retail). When filtering, the infographic will only show franchises based on your selections.

Link to infographic: How much does it cost to start a franchise?

Check it out and let us know your thoughts in the comments below!

All across the nation, veterans serve in various roles from managers to board members of franchise businesses. This year, Senator Bob Casey is hoping to step up the veteran efforts and help get more soldiers into business and working.

A new bipartisan coalition, lead by Sen. Casey and Republican Marco Rubio, is hoping to create a tax credit for veterans who purchase a franchise. “This policy will help our brave men and women in uniform as they make the transition from a soldier to a veteran who has to support their family,” said Sen. Casey.

Although the franchise industry has helped create thousands of jobs for veterans through programs like VetFran, those returning home are still met with a struggle when trying to find employment.

The new tax credit, Helping Veterans Own Franchises Act, if passed, will provide veteran franchise business owners with a tax credit that is equal to 25% of the franchise fee (up to $100,000).

Currently, the International Franchise Association estimates that 1 of every 7 franchised businesses is owned and operated by a US veteran. This is equal to more than 66,000 businesses that provide more than 800,000 jobs. Casey stresses the need for more and different ways to provide economic outlets for veterans that are returning home

“We help business owners to achieve three key objectives: lower their taxes, optimize cash flow, and increase their profits,” said Chris Lee, BookKeeping Express Ohio franchisee. “I am excited about serving the northeast business community and this opportunity to help small business survive and grow. BookKeeping Express has more than 20 years of experience in the industry and its proven, efficient business model will provide me with the support needed to help grow the business, thus allowing me to help my clients grow theirs.”

New Ohio franchisee, Chris Lee, comes to the BookKeeping Express team with a background in the Finance industry, most recently with Campbell Sales Company as their Director of Financial Planning and Analysis. Although he has a very successful career in the corporate world, Lee chose to stay in Cincinnati and become more involved in the business community, helping fulfill the needs of entrepreneurs and business clients in the area.

“So many otherwise sound businesses fail to account for their financial dealings properly, which can hinder their revenues and profitability. They want to move forward, but without knowing how to best utilize their financial data, they often feel frustrated and overwhelmed. That’s where we come in,” said Lee. The benefits, from a cost perspective alone, of letting BookKeeping Express maintain a business’s books, are significant. Many business owners fail behind on their financial records and are negatively impacted without professional help.

The Ohio BookKeeping Express office will be located in Loveland, Ohio and will offer the ability to access bookkeeping files remotely and a dashboard that sums up all business operations for analysis. The Ohio office will also offer business owners the ability to sync QuickBooks files for convenience.

Preschool Popularity Infographic by Kiddie Academy

Click here to see a higher-res photo

An infographic by the team at CouponAudit

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“Demand for franchise growth remains strong and with lending to franchise businesses reaching its highest level since the recession, the industry remains a driver of growth and job creation despite the uncertain economic and public policy environment,” said IFA President and CEO, Steve Caldeira.

Increases in the Franchise Business Index came from slight increases in credit availability and an increase in the self-employment rate of the economy.

“Each year we continue to expand the ‘Legal’ series based on growing listenership and the enthusiastic response from the franchising community,” said “Franchise Today” host Paul Segreto. “We are thrilled to have the opportunity to share the expertise of incredibly talented and well-respected leaders in the profession. The value they bring to our audience is immeasurable.”

Segreto and his guests will delve into the day-to-day legal issues facing franchisors as well as timely hot topics – private equity in franchising, social media legal considerations, franchise sales best practices (from a legal perspective), franchisor litigation issues, and international franchising challenges. “Listeners will walk away with a deeper understanding of legal matters and tangible advice and recommendations to help franchisors succeed in a competitive and litigious business environment,” said Segreto.

In line with presenting the franchise community with best practices and advice, the “Franchise Legal” series features an impressive lineup: Michael Laidhold of Plave Koch PLC, Lee Plave of Plave Koch PLC, Amy Cheng of Cheng Cohen LLC, Barry Heller of DLA Piper LLP, Mark Kirsch of Gray Plant Mooty LLP, Lane Fisher of Fisher Zucker LLC and Jonathan Redgrave of Redgrave LLP. Rounding out the two-month series with an IFA Legal Symposium Recap will be IFA’s Dean Heyl, director state government relations and public policy and tax counsel. Though several IFA staff members have contributed to “Franchise Today,” Heyl’s appearance marks the first time an IFA staff attorney will participate as part of the ‘Legal’ series.

Hosted by Paul Segreto, president and CEO of Franchise Foundry, the show’s newly expanded format is a series of multiple episodes with industry leaders, experts and key players sharing their unique perspectives on the chosen topic. This year’s series also included “Voices in Franchising” featuring IFA President and CEO Steve Caldeira and “Franchise Finance & Multi-Unit Franchising” in March. New to the “Franchise Today” lineup is a summer-long Franchisor Spotlight Series where some of the leading franchisors share best practices they’ve implemented for improved unit-economics and franchise growth. Additionally, Segreto is planning six to eight special event broadcasts throughout the year for a total of approximately 60 live shows in 2013.

For more information or to listen to live and archived shows, please visit http://www.blogtalkradio.com/franchisetodayshow.

“We are thrilled to introduce Chicago dog lovers to the Zoom Room and give them a fun new outlet to take their pups,” said Raul Murguira, Chicago franchisee. “With the cold weather during the winter and lack of dog parks during the summer, we know that dogs and owners alike will enjoy our unique concept.”

The Chicago locations will be owned and operated by husband and wife team Raul and Patricia Murguira. The couple has agreed to open three new locations over the next three years. The Murguiras are excited to offer an alternative to crowded dog parks and cold winter days. The first location is expected to open in the last half of 2013.

The pet services industry is continually growing and American spent more than $50 billion on their pets in 2011. The growth rate for this industry is more than 7.9% according to the American Pet Products Association, ripe for franchise business owners.

In a recent interview in PiWorld.com, Tom Marin of MarketCues.com interviewed Steve Greenbaum, PostNet’s CEO and founder discussing various topics including the internet’s impact on the franchising industry.  Its an interesting read, and I strongly recommend checking it out, especially Greenbuam’s comments about how the industry has evolved in the age of the internet.  “The fact is that offline marketing often drives search behaviors,” he says.

But what about all the talk that “printing is dying”?  Greenbaum notes that the printing industry has worked hard to keep up.  Printing costs have become cheaper with the advent of more digital technology, which Greenbaum notes is expected to grow from $36.7 billion to $56.7 billion by 2020.  This alone has made it easier for small businesses to create professional looking collateral they couldn’t previously afford.

Printing has been a cornerstone of franchising for as long as the franchise model has been around, and while new challenges await that weren’t inherent 20 years ago, a printing franchise can clearly make for a terrific opportunity.  Printing remains a $300 billion dollar industry.